The market surged on Friday as strong gains in heavyweight stocks lifted the benchmark VN-Index, even as market breadth remained negative and trading liquidity continued to weaken.

 

On the Hochiminh Stock Exchange (HoSE), the VN-Index closed 25.36 points higher at 1,853 points, extending its recovery after a volatile post-holiday session a day earlier.

 

Despite the sharp index gain, declining stocks continued to outnumber gainers on the bourse, with 176 stocks falling against 128 advancing. Liquidity also failed to improve alongside the benchmark, with trading value reaching VNĐ16.74 trillion (US$601 million).

 

Vingroup (VIC) was by far the biggest contributor to the market's advance. The stock approached its ceiling price during afternoon trading before easing slightly to close 4.74 per cent higher at VNĐ256,100 per share.

 

These stocks alone contributed more than 19 points to the VN-Index's gain.

 

Other names in the Vingroup ecosystem also provided support. Vinhomes (VHM) advanced 2.5 per cent, while Vinpearl (VPL) and Vincom Retail (VRE) posted smaller gains. Together, the three stocks contributed around another 3.5 points to the benchmark.

 

Trading among other large-cap stocks was generally positive.

 

Banking shares, VPBank (VPB) and Sacombank (STB), rose 3.2 per cent and 3.8 per cent, respectively. Vinamilk (VNM), Techcombank (TCB), Vietnam International Commercial Joint Stock Bank (VIB) and Techcom Securities (TCX) gained between 1 per cent and 2.5 per cent.

 

On the other hand, SeABank (SSB) dropped 4.4 per cent to VNĐ17,450, while Mobile World (MWG), Military Bank (MBB), VietinBank (CTG), PetroVietnam Refining and Petrochemical (BSR), Vietnam Rubber Group (GVR) and Vietjet (VJC) recorded modest declines.

 

On the Hanoi Stock Exchange (HNX), the HNX-Index edged up 0.29 points to 282.53 points.

 

Foreign investors returned to net buying during the session, recording net purchases of around VNĐ116 billion across the market. Of which, they net bought VNĐ95.35 billion on HoSE and VNĐ7.4 billion on HNX.

 

In a recent report, Agriseco Securities said it expected the VN-Index to continue recovering in September, targeting the 1,850–1,870-point range after establishing a short-term bottom around 1,651 points.

 

According to Agriseco's analysts, the market is receiving support from policies aimed at promoting economic growth, accelerating public investment disbursement and attracting foreign direct investment as Việt Nam seeks to achieve its 10 per cent GDP growth target for 2026.

 

Another factor highlighted by the brokerage is Việt Nam's stock market upgrade.

 

FTSE Russell has officially reclassified Việt Nam from Frontier to Secondary Emerging Market status, with the change scheduled to take effect on September 21.

 

The upgrade is expected to attract additional foreign capital and improve market liquidity, according to Agriseco. — BIZHUB/VNS

 

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